HomeMy WebLinkAbout20110350 RESOLUTION
RE: APPROVE EQUIPMENT LEASE AND AUTHORIZE CHAIR TO SIGN - POWER
EQUIPMENT COMPANY
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with an Equipment Lease between the
County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld
County, on behalf of the Department of Public Works, and Power Equipment Company,
commencing January 31, 2011, with further terms and conditions being as stated in said lease,
and
WHEREAS, after review, the Board deems it advisable to approve said lease, a copy of
which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Equipment Lease between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the
Department of Public Works, and Power Equipment Company be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said lease.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 2nd day of February, A.D., 2011, nunc pro tunc January 31, 2011.
BOARD OF COUNTY COMMISSIONERS
W D COUNTY, COL DO
ATTEST:', L^ f /ØSrkrne�e ; hair
Weld County Clerk to he eard , � / >
tAtti
.4:onay, Pro-Tem
BY: _�./.� �✓ : .�����
Deputy Clerk to the ,,y /Al
'am F. is
APPROV A • ORM:
David E. Long
County A orney EXCUSED
Douglas Rademacher
Date of signature: "5/45-
. 2011-0350
3//5- / // EG0064
Power Equipment Company Equipment Lease Paged of 2
POWER EQUIPMENT LEASE A
EQUIPMENT COMPANY With Option to Purchase
(sowp grown ea,
The following Lease is made by and between Power Equipment Company(Owner)whose address is 500 E.62nd.Avenue,P.O.Box 28,Denver,CO
80201,and WELD COUNTY(Lessee),whose address is:P.O.BOX 758,GREELEY,CO 80631
1.Lease:Owner agrees to lease the Lessee the following items(the'Equipment')subject to the terms and conditions set forth below.
'EQUIPMENT DESCRIPTION "SERIAL NUMBER MENTAL RATE 'EQUIPMENT VALUE
2006 Volvo A3OD Stock#T663O A30DV74134 $9,500.00 $32O,000.00
par month
2.JOB LOCATION:The Equipment shall be used at the following job location,unless otherwise agreed to in writing by Owner.Job Location:,,, County
3.LEASE TERM:The term of this lease shall commence on the date of delivery,currently scheduled for Monday,January 31,2011,and shall continue until
terminated by lessee.
4.RENT:Lessee agrees to pay rent to Owner at the above address for the Equipment in Monthy Installments of$9,500.00,net due upon receipt of invoice.
5.HOURS OF OPERATION:Lessee agrees to operate the Equipment no more than 176 hours per month.If the Equipment is operated more than the
stated hours,Lessee agrees to pay additional rent of$53.98 per hour or part thereof.Such additional rent is due net upon Invoice,
6.DELIVERY AND POSSESSION:Lessee shall take possession of the Equipment at the Denver,Colorado facility of Power Equipment Company and shall
pay all charges for loading,unloading,and transportation of the Equipment to the job location and its return to Owners possession at the Owner's location.
Lessee shall inspect the Equipment within forty-eight hours after taking possession.Unless Lessee within that time gives written notice to the Owner
specifying any objection to the Equipment,it shall be conclusively presumed that the Lessee has fully Inspected the Equipment,has found the Equipment In
good condition and repair,and has accepted the Equipment.
7.ADDITIONAL RENT:If the Equipment has not been returned to Owner at the expiration of the term,Lessee agrees to pay rent from the expiration of the
tens until the Equipment is delivered to Owner's possession.Such rent shall be computed and paid on a monthly basis,at the same pro rata rate and upon
the same terms as the original term of this Lease.
8.USE:Lessee shall:(a)Use the Equipment in a careful and proper manner,and not permit the Equipment to be neglected or abused or to be used for any
purpose for which it is not designed or intended;(b)Comply with al laws,ordinances and regulations relating to the transportation,possession,use,or
maintenance of the Equipment(c)Keep Axed all Owner or Manufacturer supplied labels,plates,warning or other markings In a proper and appropriate
place on the Equipment(d)Cause the Equipment to be operated by trained and competent employees only,knowledgeable in the function,operation and all
safety features of the Equipment;and(e)Pay al expenses of operation.
9.REPAIR AND MAINTENANCE:Lessee agrees to keep the Equipment in good repair and perform all manufacturers recommended periodic maintenance
at Lessee's sole expense,and to return the Equipment in good repair and at the termination of this Lease.For the purpose of this Lease,°good repair'shall
mean in full operating condition and working order,with all parts of the Equipment in the substantially equivalent condition as when the Equipment was
delivered to the Lessee.Lessee at its sole expense shall repair or replace any and all parts,mechanisms,or devices required to keep the Equipment in good
repair.Any replacement parts incorporated into the Equipment shall Immediately become the property of the Owner.In the event the Equipment for any
reason is not in good repair when returned to the Owner,Lessee agrees to pay al reasonable charges and expenses Incurred by the Owner in repairing the
equipment.
10.ADDITION OF ACCESSORIES:Lessee will not,without the written consent of the Owner,install any accessories or devices on the Equipment if such
Installation will impair the originally-intended function or use of the Equipment Such items installed on the Equipment shall automatically become the
property of the Owner unless such item can be removed without in any way affecting the function,use or appearance of the Equipment Any damage to the
Equipment caused by the removal of such items shall be repaired at Lessee's expense.
11.PERSONAL PROPERTY:The Equipment is,and shall at all times remain,personal properly.If all or any part of the Equipment Is attached to,Imbedded
In or permanently resting upon any real property or any building thereon,or attached in any manner to what is permanent,by means of cement,plaster,nails,
bolts,screws or otherwise,the Equipment shall nonetheless remain personal property.
12.INSPECTION BY OWNER:Lessee shall,whenever requested,advise Owner of the exact location of the Equipment.Owner and its representatives may,
for the purposes of inspection,at all reasonable times,enter upon any job,building or place where the Equipment is located.Owner may remove the
Equipment without notice to the Lessee if,in the opinion of the Owner,the Equipment is being used beyond its capacity or in any other manner improperly
cared for or abused.
13.TITLE,ASSIGNMENTS,AND ENCUMBRANCES:All of this Equipment shall remain personal property and title thereto shall remain in Owner
exclusively.Neither this Lease,nor the Lessee's rights hereunder shall be assignable except with the Owner's written consent.Lessee shall not lease,
sublease,mortgage or otherwise encumber or part with possession of the Equipment or any part thereof,except with the written consent of the Owner.
Lessee shall keep the Equipment free from any and all Dens and claims,and shall not do or permit any act or omission whereby Owner's title or rights may
be encumbered or impaired.Lessee agrees to pay all license fees and taxes applicable to the Lease,other than Income taxes and personal property taxes
and license fees on the Equipment.The Lessee shall also provide all permits,if any,necessary for the installation,movement and operation of the
Equipment or any pats thereof.
14.WARRANTIES:It is expressly agreed that,except as stated below,THE OWNER HAS MADE AND MAKES NO EXPRESS OR IMPLIED WARRANTIES
AS TO ANY MATTER WHATSOEVER,INCLUDING WITHOUT LIMITATION,THE CONDITION OF THE EQUIPMENT,ITS MECHANTABILITY,OR ITS
FITNESS FOR ANY PARTICULAR PURPOSE.ANY DEFECT IN,OR UNFITNESS OF THE EQUIPMENT SHALL NOT RELIEVE THE LESSEE FROM THE
OBLIGATION TO PAY RENT OR ANY OBLIGATION UNDER THIS LEASE.Lessee represents that it Is skilled and experienced In the use and operation of
the Equipment,and makes the selection and decision on whether to lease on the basis of Lessee's own judgment,without reliance on any statements or
representations by Owner.It is expressly agreed that Lessee shall take the equipment as is,except as stated herein.It is further agreed that Owner extends
no warranties or guarantees for new Equipment.Owner shall extend and b niraha unto Lessee all of the vendors warranties and guarantees,W any,for new
htlidev:govier-equIp.net/equipcontract/PECO.aspx 1/282011
2011-0350
Power Equipment Company Equipment Lease Page 2 of 2
14.WARRANTIES Continued:Notwithstanding any failure of the vendor to honor any warranty or guarantee,Lessee agrees to maintain the Equipment In
good repair,as described herein,and to make all rental payments required herein.
15.INSURANCE:During all times the equipment is in Lessee's pnccaccbn.Lessee shad keep the Equipment insured against all risks of loss or damage
from every cause whatsoever for not less than the lull replacement value of the Equipment as determined by Owner,and shall carry pubic liability,
contractual liability,and property damage insurance covering the Equipment,its operation and use.All such insurance shall be in the form and amount and
with companies a proved by the Owner,and shall designate Owner and Lessee as insureds under such policy.Lessee shall pay the premium for such
insurance,and shall deliver to Owner a copy of such policy or a certificate of insaahce executed by the insurer prior to taking possession of the Equipment
Such policies shall explicitly provide that the insurer shall give Owner thirty days written notice before the policy In question shall be altered or cancelled.The
proceeds of such Insurance,at the option of the Owner,shall be applied:(a)toward the replacement,restoration,or repair of the Equipment,or(b)toward
payment of the obligations of the Lessee hereunder.If,within ten days following notice by the Owner to the Lessee,the Owner has failed to receive policies
or certificates of insurance in accordance with this paragraph,the Owner shall,at Owner's option,have the right to(a)declare this Lease in default and
exercise its remedies as set forth below,or(b)procure such insurance,in which event Lessee shall reimburse Owner for the cost of procuring Insurance,
which amount shall be payable in its entirety on the next rental payment date or within thirty days,whichever Is sooner.
16.INDEMNITY:The Lessee shad Indemnify the Owner against,and shall hold the Owner harmless from,any and all claims,actions,suits,proceedings,
costs,expenses,damages,and liabilities,including attorneys'fees,arising out of,connected with or resulting from the Equipment,including without limiting the
generality of:the manufacture,selection,delivery,possession,use,operation,or return of the Equipment
17.DEFAULT:If Lessee fails to perform any obligation required herein or to pay any sum when due,or if an attachment is levied against the Equipment or
attempted by a creditor of the Lessee,or If the condition of the affairs of the Lessee or any guarantor changes so as to,in the sole opinion of the Owner,
significantly increase the Owner's risk of loss,the Owner shall have the right to exercise one or more of the following remedies:(a)To declare the entire
amount of rent hereunder Immediately due and payable as to any and all items of Equipment,without any notice or demand to the Lessee;(b)To sue for and
recover all rents,and other payments then accrued,or thereafter accruing with respect to any or ad items of Equipment;(c)To take possession of the
Equipment without demand or notice,wherever the same may be located,without any court order or other process of lax.The Lessee hereby waives any
damage occasioned by such taking of possession.Such taking of possession shall not constitute a termination of this lease unless the Owner expressly so
notifies the Lessee in writing;(d)To terminate this Lease to any or all Items of Equipment(e)pursue any other remedy at law or in equity.Notwithstanding
any such repossession or other action,which Owner may take,the Lessee shall remain liable for the full performance of all obligations under this Lease.In
the event Owner regains poccnacbn of the Equipment,Owner may relet the Equipment for a term and at a rental which may be equal to,greater than,or
less than the rental and term herein provided.Any rental payments received under the new Lease for the period prior to the expiration of this Lease,less
Owner's expenses of taking possession,storage,reconditioning and releasing,shall be appled on Lessee's obligations here-under,and Lessee shall remain
liable for the balance of the unpaid aggregate rental set forth above.Lessee's debility shad not be reduced by reason of any failure of the Owner to relet
Lessee hereby agrees to pay all expenses,including all attorneys'fees and expenses,which may be incurred by Owner in enforcing this agreement or in
collecting the rent provided herein,or in repossessing the Equipment
18.INTEREST AND ATTORNEY'S FEES:In the event that any amount due under the terms of this Lease is not paid when due,Lessee agrees to pay
Owner,in addition to all amounts due,interest at the rate of 24%per annum,together with all costs,expert witness fees,and reasonable attorneys'fees
incurred in collection these amounts. •
19.CHOICE OF LAW AND FORUM:This agreement shall be enforced and construed pursuant to the laws of the State of Colorado.My action to enforce,
interpret,construe,or collect damages under this Lease,or for any claims arising our of the manufacture,sale,selection,use,operation,maintenance,or
repair of the Equipment,shall be brought in the District Court for the City and County of Denver,Colorado.Owner and Lessee,and any guarantors of this '
Lease,hereby agree to the jurisdiction of such court
20.GENERAL CONDITIONS:(a)Time is of the essence to this Lease.(b)Owner's failure at any time to require strict performance by Lessee of any of the
provisions of this Lease shall not waive or diminish Owner's right thereafter to demand strict compliance therewith or with any provision.(c)Waiver of any
default shall not waive any other default.(d)My alteration or modification of this Lease shall be in writing and signed by the Owner and Lessee.(e)This
Lease constitutes the entire agreement of the parties,and supersedes all prior representations or agreements between the parties.
2 OPTION Imp A arty t ' the term iso Le , in th tion th d
ra OP,000.00 tog errRCHSE:with the At' er d situp du inter on this lintase
anal;
the d s 2.00 ave r thee top
prim ratethe d JP erguipmen or asee or 8. %.b)The
price all also in all charges repairs the Eq ' ment by Owner, Owner's ndard s for sus rls or ces.( Lessee all be
given credit again is price for of ad rn Re aid by I e,and in shall b mpute n the 'ning bale of the rice.(d) long
as this ton Is exe during the rm,the p shad reduced the fold amounts: .1)1 all T Rent paid L and race by
the during or p to the strain ti of the ;(d. 80%of al emit Rent id by Le and d the er during , ighth or th
months of e Tern;and .3)60%of a Term Rent aid by Lessee received the Owner 'ng the th and t# fth mo s of the
Term.(e) ' option to ase shall irate at tin end o e term of lease.Lessee shall thereafter have no right purchase the Equipment,nor
will Lessee be entitled to any credit or othe nsidera' for t paid.
22,OTHER CONDITIONS:NONE. - Col l� 1 J 4 ct�
4U , Gi5Vcif � ata.Q.
tl
POWE'j QUIP I T COMPANY,Owner WELD OUNTY,Lessee
By: G,/ 4 .. ,
By: _
Title: a e,' sf i „[ .h .�, Tit e: Barbara Kirkme er, Chaif, Board of
Weld County Commissioners
FEB 022011
http:f/www.power-equip.net/equipcontractiPECOaspx 1/28/2011
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